Illinois Breaks Sports Betting Revenue and Handle Records in January

Illinois’s sports betting handle reached a record $581.6m in January, while the US state also saw revenue reach an all-time high of $49.4m during the month.

Revenue in January amounted to $49.4m, more than double the $23.9m posted in December last year, though the previous month’s figures were impacted by the temporary closure of casinos due to novel coronavirus (Covid-19) measures.

Online wagering accounted for $47.1m of total revenue for the month, whereas retail sportsbooks only contributed $860,392 in revenue.

In terms of operators, the Par-A-Dice Gaming Corporation, which runs a FanDuel sportsbook, led the market with $16.8m in revenue.

Casino Queen and DraftKings ranked second with $15.6m in revenue, ahead of Midwest Gaming & Entertainment and Rush Street Interactive on $10.8m.

Operators paid a total of $7.7m in tax during January, with the majority of this ($7.2) based on the state’s base 15% tax rate, and the remaining $479,052 from an additional 2% tax on bets placed in Cook County, which includes Chicago.

Looking at the state’s handle, players spent $575.2m betting on sports via online platforms in January, while just $9.4m was bet at land-based sportsbooks across Illinois.

Consumers wagered a total of $441.1m on professional sports during the month, while $140.4m was spent on collegiate sports events. The remaining $13,383 was attributed to bets on motor racing.

Basketball was the most popular sport to bet on in January, attracting $230.0m in bets.

The National Football League play-offs also took place in January, helping bring in $159.0m in wagers on football, while parlay betting accounted for $109.2m in bets.

bitcoin
Bitcoin (BTC) $ 62,232.00 0.29%
ethereum
Ethereum (ETH) $ 2,488.01 1.73%
binance-coin
Binance Coin (BNB) $ 537.79 4.05%
xrp
XRP (XRP) $ 1.63 4.04%
tether
Tether (USDT) $ 0.999523 0.31%
cardano
Cardano (ADA) $ 1.45 1.76%
polkadot
Polkadot (DOT) $ 42.89 1.70%
dogecoin
Dogecoin (DOGE) $ 0.280658 15.35%
litecoin
Litecoin (LTC) $ 320.21 11.88%
bitcoin-cash
Bitcoin Cash (BCH) $ 1,127.85 23.05%
S&P 500  ^GSPC 
$4,185.47  $15.05  (0.36%)
Dow Jones Industrial Average  ^DJI 
$34,200.67  $164.68  (0.48%)
NASDAQ Composite  ^IXIC 
$14,052.34  $13.58  (0.10%)
Russell 2000  ^RUT 
$2,262.67  $5.60  (0.25%)
Crude Oil May 21  F*CL.NYM 
$63.07  $0.3900  (-0.61%)
   
$0.0000  $0.0000  (0.00%)